Alba’s BoD meeting for Q4 2021 approves offtake agreement with South32 for the supply of Alumina

On Wednesday, December 1, Aluminium Bahrain B.S.C (Alba), the world’s largest smelter outside China, held its Board of Directors (BoD) meeting in person for Q4 2021. The meeting was conducted at the Alba Oasis Hall, following all the COVID-19 protocols and guidelines laid down by Bahrain National Medical Task Force for Combating the Coronavirus.

“Thanking the Management team and everyone in the workforce on Alba's record-breaking performance for the 9-months of 2021 and stated that Alba is on track to set new benchmarks by finishing 2021 strong. We are also pleased to issue a Limited Notice to Proceed, subject to successful financial closure, towards Mitsubishi & SEPCO III Consortium to be the Engineering, Procurement and Construction contractor for the fourth additional block in Power Station 5,” said Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Chairman of Alba’s Board of Directors. 

“As we chart our way towards integrating ESG in every aspect of our business to meet Bahrain's National Green Initiatives, Power Station 5 - Block 4 will bring us one step closer in our race towards decarbonization in terms of higher efficiency and lower greenhouse gas (GHG) emissions. Block 4 will add 680.9 MW to Power Station 5's 1,800 MW and scale up its total capacity to 2,480 MW,” added Shaikh Daij Bin Salman Bin Daij Al Khalifa. 

At the Q4 Board of Directors meeting, the following things were approved by the BoD: 

• Marketing Plan for 2022
• Annual Operating Plan for 2022
• South32 has signed an offtake deal for the delivery of alumina over ten years from 2023 to 2032.
• 2022 proposed schedule for the Board and Committee meetings

The Board also adopted the minutes of the last Board meeting, which took place on September 29, 2021, and examined the reports of the several Board Committees (Executive Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee).

Alba Management discussed the company's overall performance in light of market conditions, including overall Sales despite logistical challenges, VAP Sales, Safety and ESG, Plant performance, financial performance to date, Al Hassalah programme, and Spent Pot Lining Treatment Plant construction progress, as well as Alba's 5-year Strategic Initiatives.

Mr Yousif Abdulla Taqi, Mrs Suha Karzoon, Shaikh Isa Bin Khalid Al Khalifa, Mr Tim Murray, and Mrs Rasha Sabkar are among the six directors appointed by Bahrain Mumtalakat Holding Company B.S.C. to the Alba Board of Directors, which includes the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa. Mr Ahmed Al Duriaan, Mr Iyad Al Garawi, and Mr Omar Al Amoudi were appointed by Sabic Industrial Investments Co. (SIIC), and Mr Mutlaq Al-Morished was elected.